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This Table Shows the Total Costs for Various Levels of Output

Question 75

Multiple Choice

This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market. This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market. According to the table shown,when 1 unit is produced: A) marginal costs exceed marginal revenue, and the firm should produce more. B) marginal revenue exceeds marginal costs, and the firm should produce more. C) marginal revenue exceeds marginal costs, and the firm should produce less. D) marginal costs exceed marginal revenue, and the firm should produce less. According to the table shown,when 1 unit is produced:


A) marginal costs exceed marginal revenue, and the firm should produce more.
B) marginal revenue exceeds marginal costs, and the firm should produce more.
C) marginal revenue exceeds marginal costs, and the firm should produce less.
D) marginal costs exceed marginal revenue, and the firm should produce less.

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